The designer later issued a statement admitting he had "misunderstood that Ms Streep may have chosen another designer due to remuneration" and said he regretted the controversy.

However, Streep, who has her 20th Oscar nomination this year for Florence Foster Jenkins, hit back.

She said Lagerfeld "defamed me, my stylist and the illustrious designer whose dress I chose to wear, in an important industry publication".

Her statement added: "The story was picked up globally, and continues, globally, to overwhelm my appearance at the Oscars, on the occasion of my record-breaking 20th nomination, and to eclipse this honour in the eyes of the media, my colleagues and the audience."